Earlier this week, the Raglan Club Executive sent the following email to its members advising them that it had repaid the $50K loan to Raglan SuperValue owner, Mr Sharma:
Over the last week we have been overwhelmed with support, the Raglan Club Inc is extremely lucky to have such a passionate and dedicated membership who are committed to keeping the Club alive. As a result of this member support, the Club has now repaid the $50,000 loan in full that was due Friday 23 March.
Two special general meetings proved our membership was not willing to sell any property until every other option to streamline the business had been investigated. As we were told, selling assets to prop up a failing model only postpones the inevitable. This executive has responded to a difficult situation within the parameters defined by the membership and has been overcoming a number of challenges to make plans and move the Club forward.
Through our strategic planning process we have identified our strengths and weaknesses and have put together a strategic plan, we hope will secure the future of the Club. We are making changes and change is often difficult to implement, however, we are working in the best interests of the Club and our members and ultimately for our wider community.
Additionally our Accountant has resigned this week. Bizworx have only recently been helping with the review and a transition of accounting systems. But we will need to engage them now to assist us with the preparation of our accounts for the year end to satisfy the auditor.
The Executive would like to thank all our Club members.
Regards
The Executive Committee